In the past few years our clients have added these items to their must have criteria in a search for the ideal home:
- Walk to transportation, coffee shops, restaurants, schools, parks, shopping(specifically daily groceries)
- Easy access to Metra , the “L”, Expressways, O’Hare
- High rated schools
Suburban amenities with urban conveniences…”SURBAN”
My wife and I were raised in and currently live and work in one of the best “surban” locations, Park Ridge. And I have helped my clients move to many others that fit this bill to include, but not limited to, Des Plaines, Mt Prospect, Arlington Heights, Morton Grove, Evanston, Elmhurst, Brookfield, LaGrange, Western Springs, Hinsdale. ALL of these offer the new must have criteria. Interestingly I have very few requests from clients who want more space or from those who want to get away from it all(as was the case for decades). Oh sure a couple of my buyers still want to find enough acreage to grow a self sustaining small farm. A few more want enough land to create one or two golf holes for practice. But the vast majority are honed in on “surban” living.
It’s translating into an increased average price as you get closer to the desired amenities. The sales price in the aforementioned communities within a mile of the new criteria is from 8% to 13% higher than the over all town statistic. In Park Ridge you will pay $47k more to walk to Whole Foods and in Elmhurst you will pay $68k more to walk to the Metra.
There are many factors driving this new demand and they have to do with a healthier lifestyle which involves less driving and more walking at its core. But look, whatever your reason for wanting the “surban” home, be ready to invest more in it, and in you…Both are worth it!